The U.S and China's trade war
For a couple of days now, I've been looking up some articles to try and understand what is going on between the U.S and China over this trade war. Apparently, China has accused the US of launching the "largest trade war in economic history". The U.S imposed three rounds of tariffs on Chinese products. I looked up what tariffs meant and it was defined as a tax or duty to be paid on particular class of imports or exports. Since the U.S imposed on new tariffs, the cost totaled up $250 billion worth of goods, making it harder for China to trade with the U.S. There has been a lot of back and forth with the U.S and China over trade and I don't really know the reason. Trump had also said that if China were to retaliate, they would increased the tariffs even more. The article also mentioned that if Trump goes ahead with the round of taxes, that would mean all of China's exports to the U.S would be subject to duties. I know about trade and that the U.S and China trade with each other but I would like to know the reason as to why Trump is making the prices of trade go higher.
Link: https://www.bbc.com/news/business-44529600
Link: https://www.bbc.com/news/business-44529600
Comments
Post a Comment